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ADB to help Sri Lanka expand Colombo Port

Sri Lanka signed a transaction advisory services agreement with the Asian Development Bank to develop a section of the Colombo Port project, reports Colombo Page.

Speaking after the signing of the agreement, which was witnessed by Sri Lanka’s Finance Minister Ravi Karunannayake, the ADB country director for Sri Lanka Takehiko Nakao, said,

“The terminal will maintain Colombo Port’s strategic position as a key trans-shipment hub for global and regional trade.”

The ADB president’s visit to Colombo also saw a US $100 million loan agreement to increase employment opportunities by strengthening access to finance for small and medium enterprises.

ADB president visits Sri Lanka, looks to increase funding portfolio (23 Feb 2016)